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6402 Windmill Gate Rd

Miami Lakes, FL 33014 · townhomes · For Sale · 35 days on market
Asking price$459,000
3 beds 2 baths 972 sqft
Suggested offer$299,589$159,411 above the est. market value of $299,589.
View on Realtor.com →
Listed by Danielle Guerra · City Center Realty
Typetownhomes
Built1978
Price / sqft$472
Est. value (own analysis)$299,589
Rent estimate (own analysis)$2,450/mo
HOA$85/mo
Wind10/10Extreme$Heat10/10ExtremeFlood2/10minor$Air2/10MinorWildfire1/10Minimal
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Neighborhood

Show every detail
Statusfor_sale
Listed date2026-07-29
Removed date—
MLSMiamiMLS #A12061942
Coordinates25.92275, -80.30611
Address6402 Windmill Gate Rd
CityMiami Lakes
StateFL
Zip33014
Listing ID6086419439
Sourceus-real-estate-listings, cached 2026-08-28

ZIP market snapshot (33014)

Typical home value (ZHVI)$442,718
Typical rent (ZORI)$2,327/mo
Zillow Research's ZHVI (home value index) and ZORI (rent index) for this ZIP, as of 2026-07 — free published data, refreshed monthly, no RentCast quota spent. "Typical value/rent" is a smoothed index, not a literal median of active listings.

Underwriting (buy-and-hold, default assumptions)

Acquisition (one-time, not monthly/yearly)
Purchase price$459,000
Down payment (20.0%)$91,800
Loan amount$367,200
Closing costs (5.0%)$22,950
Total cash to close$114,750
Income
Rent (comp-derived)$2,450$29,400
Vacancy loss (8.0%)

Vacancy Loss

Gross Scheduled Rent × Vacancy Rate

Gross scheduled rent (annual) comp$29,400
Vacancy rate (assumption) assumption8.0%

$29,400 × 8.0% = $2,352

Effective gross income$2,254$27,048
Operating expenses
Property tax (placeholder 1.9% of price)$727$8,721
Insurance (est. scaled by flood & wind risk)$459$5,508
HOA dues$85$1,020
Management (0.0% of EGI)$0$0
Maintenance (5.0% of GSR)$123$1,470
Total operating expenses$1,393$16,719
Net operating income (NOI)

Net Operating Income (NOI)

Effective Gross Income − Total Operating Expenses

Effective gross income derived$27,048
Total operating expenses derived$16,719

$27,048 − $16,719 = $10,329

Debt service & reserves
Debt service (6.66%, avg 30yr rate as of 2026-08-27, 30yr amortizing)

Monthly Principal & Interest

Standard amortization on the loan amount, at the effective rate and term

Loan amount derived$367,200
Interest rate (avg 30yr rate) comp6.7%
Term (assumption) assumption30 years

$367,200 amortized at 6.7% over 30 years = $2,360/mo

CapEx reserve (5.0% of GSR)$123$1,470
Mortgage insurance (PMI) (0.0% of loan, not required — down payment ≥ 20%)$0$0
Cash flow

Monthly Cash Flow

(NOI − Annual Debt Service − Annual CapEx Reserve − Annual PMI) ÷ 12

NOI derived$10,329
Annual debt service derived$28,317
Annual CapEx reserve assumption$1,470
Annual PMI assumption$0

($10,329 − $28,317 − $1,470 − $0) ÷ 12 = -$1,621

Cap rate

Cap Rate

NOI ÷ Purchase Price

NOI derived$10,329
Purchase price data$459,000

$10,329 ÷ $459,000 = 2.3%

Cash-on-cash

Cash-on-Cash Return

Annual Cash Flow ÷ Total Cash Invested

Annual cash flow derived-$19,458
Total cash to close derived$114,750

-$19,458 ÷ $114,750 = -17.0%

DSCR

Debt Service Coverage Ratio (DSCR)

NOI ÷ Annual Debt Service

NOI derived$10,329
Annual debt service derived$28,317

$10,329 ÷ $28,317 = 0.36

Rent-to-price (1% rule)

Rent-to-Price (the "1% rule")

(Gross Scheduled Rent ÷ 12) ÷ Purchase Price

Gross scheduled rent (annual) comp$29,400
Purchase price data$459,000

($29,400 ÷ 12) ÷ $459,000 = 0.5%

Gross rent multiplier

Gross Rent Multiplier (GRM)

Purchase Price ÷ Gross Scheduled Rent

Purchase price data$459,000
Gross scheduled rent (annual) comp$29,400

$459,000 ÷ $29,400 = 15.6

Operating expense ratio

Operating Expense Ratio

Total Operating Expenses ÷ Effective Gross Income

Total operating expenses derived$16,719
Effective gross income derived$27,048

$16,719 ÷ $27,048 = 61.8%

Break-even occupancy

Break-Even Occupancy

(Total OpEx + Annual Debt Service + Annual PMI) ÷ Gross Scheduled Rent

Total operating expenses derived$16,719
Annual debt service derived$28,317
Annual PMI assumption$0
Gross scheduled rent (annual) comp$29,400

($16,719 + $28,317 + $0) ÷ $29,400 = 153.2%

Comparables

Same ZIP. Real active rental listings, used to derive the rent estimate above.

AddressTypeBedsBathsSqftAsking rentListedDays on market
townhomes331,094$2,3902026-07-24—
townhomes331,100$9002026-08-19—
townhomes321,275$2,8002026-08-12—
townhomes331,102$2,3002026-08-20—
townhomes321,275$3,1752026-07-19—
townhomes321,280$2,8002026-08-21—
townhomes331,089$2,4502026-08-02—

Hialeah, 33014 · rent comp

Bedrooms / bathrooms3 bd / 3 ba
Square footage1,094
Listed2026-07-24
Days on market—

Asking rent: $2,390

View on Zillow →

6941 W 7th Ave Unit 10

Hialeah, 33014 · rent comp

Bedrooms / bathrooms3 bd / 3 ba
Square footage1,100
Listed2026-08-19
Days on market—

Asking rent: $900

View on Zillow →

6364 Milk Wagon Ln Unit 6364

Miami Lakes, 33014 · rent comp

Bedrooms / bathrooms3 bd / 2 ba
Square footage1,275
Listed2026-08-12
Days on market—

Asking rent: $2,800

View on Zillow →

627 W 68th St Unit 627

Hialeah, 33014 · rent comp

Bedrooms / bathrooms3 bd / 3 ba
Square footage1,102
Listed2026-08-20
Days on market—

Asking rent: $2,300

View on Zillow →

6433 Windmill Gate Rd Unit 6433

Miami Lakes, 33014 · rent comp

Bedrooms / bathrooms3 bd / 2 ba
Square footage1,275
Listed2026-07-19
Days on market—

Asking rent: $3,175

View on Zillow →

669 W 80th St Unit 0

Hialeah, 33014 · rent comp

Bedrooms / bathrooms3 bd / 2 ba
Square footage1,280
Listed2026-08-21
Days on market—

Asking rent: $2,800

View on Zillow →

643 W 68th St Unit 643

Hialeah, 33014 · rent comp

Bedrooms / bathrooms3 bd / 3 ba
Square footage1,089
Listed2026-08-02
Days on market—

Asking rent: $2,450

View on Zillow →

Same ZIP & bedroom count. Closed sales from Realtor.com over the last 12 months, matched to this property's type — real transaction prices, not asking prices. Falls back to Miami-Dade County public records (property appraiser tax roll) when Realtor.com has no sales on file for the area.

AddressTypeBedsBathsLiving sqftSale priceSale date
7310 W 3rd Avetownhomes331,606$375,0002026-07-31
16613 NW 71st Avetownhomes331,258$430,0002026-07-31
1789 W 72nd Sttownhomes331,769$545,0002026-06-19
6832 W 2nd Cttownhomes331,606$495,0002026-06-08
6916 NW 166th Ter Unit 1204townhomes321,270$384,5002026-05-15
7725 W 10th Avetownhomes321,151$490,0002026-05-14
1594 W 73rd Sttownhomes321,008$530,0002026-05-01
6895 W 16th Drtownhomes321,428$450,0002026-04-24
15533 Miami Lakeway N Apt 106townhomes321,288$425,0002026-04-21
7090 W 2nd Cttownhomes321,606$490,0002026-04-14
7385 Big Cypress Cttownhomes321,333$350,0002026-03-31
6923 Holly Rdtownhomes321,445$570,0002026-03-05
15915 Kingsmoor Way Unit 15915townhomes321,460$501,1502026-02-27
6822 W 2nd Lntownhomes331,606$485,0002026-02-24
6925 W 3rd Avetownhomes331,452$400,0002026-02-20
1925 W 72nd Sttownhomes321,520$472,0002026-02-13
877 W 79th Pltownhomes321,747$484,0002026-02-12
1732 W 72nd St Unit 1732townhomes321,438$440,0002026-02-03
765 W 80th Sttownhomes321,280$420,0002026-02-03
6915 W 16th Drtownhomes321,428$420,0002026-01-16
7305 W 2nd Cttownhomes331,606$480,0002026-01-07
810 W 80th Pltownhomes321,278$415,0002025-12-22
6855 W 2nd Lntownhomes321,606$475,0002025-12-18
7380 Big Cypress Drtownhomes331,740$635,0002025-12-08
15512 Sharpecroft Drtownhomes321,460$477,0002025-11-25
7310 W 2nd Waytownhomes321,606$480,0002025-11-14
829 W 79th Pl Unit 829townhomes321,278$440,0002025-11-12
7417 Twin Sabal Drtownhomes321,333$470,0002025-10-30
7250 W 2nd Cttownhomes321,606$495,0002025-10-29

Same ZIP. Other properties currently for sale nearby — asking prices, not closed sale prices. Not a price comp; see Sold comps for actual transaction history.

AddressTypeBedsBathsSqftAsking priceDays on market
6931 Loch Ness Drsingle_family322,050$1,100,000—
903 W 77th Stcondo_townhome_rowhome_coop321,103$450,000—
14021 Cypress Ctsingle_family332,216$920,000—
15499 Miami Lakeway N Unit 306-5condos321,240$349,990—
15533 Miami Lakeway N Unit 101-19condos321,282$404,900—
13988 Lake Lure Ctsingle_family321,412$799,999—
6901 Miami Lakeway Ssingle_family322,206$1,250,000—
6364 Milk Wagon Lntownhomes321,275$460,000—

10-year hold projection

IRR-1.3%
Equity multiple0.79x
Total return (10yr)$35,650
YearProperty valueNOICash flowLoan balanceEquity
1$472,770$10,329-$19,458$363,219$109,551
2$486,953$10,722-$19,101$358,964$127,989
3$501,562$11,130-$18,731$354,417$147,145
4$516,609$11,552-$18,348$349,558$167,051
5$532,107$11,988-$17,951$344,365$187,742
6$548,070$12,440-$17,540$338,816$209,254
7$564,512$12,908-$17,114$332,885$231,627
8$581,447$13,392-$16,672$326,548$254,900
9$598,891$13,893-$16,215$319,775$279,116
10$616,858$14,412-$15,741$312,537$304,321
Assumes 3.0% annual rent growth, 2.5% expense growth, 3.0% appreciation, and a 6.0% selling cost at exit — all placeholder assumptions, not market-derived.
All figures are estimates for evaluation purposes only, not investment, tax, legal, or insurance advice. Property tax is estimated from a real matched tax bill or millage rate when available, a placeholder % of price otherwise; insurance is scaled by flood and wind risk where those are known and a flat percentage otherwise — never a real quote. Verify all of them, along with association restrictions and permit status, before committing capital. Rent estimates come from real comps or Zillow’s ZIP index, not appraisals.